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Author Topic: Fear Of August 1st  (Read 4629 times)
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July 21, 2017, 11:21:19 PM
 #1

On the 18th of July, after the market  hqd taken a plunge two days earlier, this was the picture on my trading desk. Looking at the picture and then the possibility of a split into 2 - 4 Bitcoin coins, what was going to be your decision? Do you think those indicators have anything to add in reaching a trading decision? In between when this shot was taken and now, market have moved from $2300 to Over $2700 and most likely testing $3000 before 1st of August!

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July 21, 2017, 11:37:27 PM
Last edit: July 22, 2017, 02:55:20 AM by Rahar02
 #2

What do you mean? Bitcoin price still persist over $2650 and where do you find it at $2300, on your trading desk?
Do not spreading fud news, bitcoin won't split into 2-4 coins, bitcoin still one and always be the one, consensus rule make it happen.
People or miners simply choose to signaling for segwit or not, if the hashrate on the deadline still not enough around 89%-95%, then it won't be activated. Let's see what will happen in August, but I'm quite sure bitcoin won't split.
Edit : For BIP148 Bitcoin, if garners >51% of the network hashrate, UASF supporters are victorious.
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July 21, 2017, 11:47:12 PM
 #3

I do trust segwit. Why so worry about August 1? Just sell all your Bitcoin to any shitcoin you like. Then rebuy it at the dip after August 1. Instant money.

Trade your worry to profit Wink


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socks435
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July 21, 2017, 11:47:25 PM
 #4

Honestly i don't understand what actually do you mean.. Well bitcoin was stable few weeks ago with $2300 value but people are afraid about segwit or what will happen in august 1 that is why the price was drop until $1800 value but after beginning running segwit software by some miners its normally running this is what i heard from them and announce that segwit is running normally so it means after august 1 after activation it will running normally..
This is the reason the price was increasing fast until the price was touch back to $2700 value ..  but the fear after this month there are still people are afraid after august 1.

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July 21, 2017, 11:58:22 PM
 #5

On the 18th of July, after the market  hqd taken a plunge two days earlier, this was the picture on my trading desk. Looking at the picture and then the possibility of a split into 2 - 4 Bitcoin coins, what was going to be your decision? Do you think those indicators have anything to add in reaching a trading decision? In between when this shot was taken and now, market have moved from $2300 to Over $2700 and most likely testing $3000 before 1st of August!

https://i.imgur.com/ppMzXikl.png

My decission was selling it. I really couldn't take the risk of sharp downs. I sold it out and started to wait for 1 august segwit. Carrying positions very dangerous for now.

By the way, what's the chart or system you used in the image? It's very cool.
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July 22, 2017, 12:00:37 AM
 #6

I think that making any trading decisions related to August 1st is basically gambling.  It's very tough to gauge how other traders are going to react to the event.

It'll be a tad more bullish now that BIP 91 is locked in, because it seems like the splits will be less relevant in the short term.  Still, definitely hard to tell.

If I were you I'd just short when it gets overheated (like the leap to $2740 it just did) and go long when it dips (the $1800 thing recently).  Once it gets anywhere close to the actual date, definitely withdraw to your own wallet.  You don't want an exchange controlling your private keys when it actually happens.
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July 22, 2017, 01:39:00 AM
 #7

never worry about it, just buy cheap bitcoin.

you will lose only if you sell.

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July 22, 2017, 03:58:50 AM
 #8

On the 18th of July, after the market  hqd taken a plunge two days earlier, this was the picture on my trading desk. Looking at the picture and then the possibility of a split into 2 - 4 Bitcoin coins, what was going to be your decision? Do you think those indicators have anything to add in reaching a trading decision? In between when this shot was taken and now, market have moved from $2300 to Over $2700 and most likely testing $3000 before 1st of August!



i am not to worry and i am not fear of 1st august, if i see there is a down price, then i will decide to buy more bitcoin but i will make sure the price is really down. from the image you insert, i see the trend is down day by day after we reach the highest price $29xx before the end of this month. and if in 1st august the price is really down, then its our opportunity to buy back bitcoin with lower price, i think many people won't missed this moment to get more bitcoin.

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July 22, 2017, 04:36:03 AM
 #9

i don't understand why ask something that is now over and 4 days has past from it!
anyways my speculation was to buy the dips and as i said by that time we were in the same FUD pattern as before because of a fake news about split and people were fearing for nothing.

and as it turns out the $1830 dip was exactly the same as the $880 dip.

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July 22, 2017, 05:04:58 AM
 #10

i don't understand why ask something that is now over and 4 days has past from it!
anyways my speculation was to buy the dips and as i said by that time we were in the same FUD pattern as before because of a fake news about split and people were fearing for nothing.

and as it turns out the $1830 dip was exactly the same as the $880 dip.
Although the scenario about Bitcoin HardFork have been a lot in the past, but it still useful with whales for creating panic and make mentality of trader always fearing. And in past days, the result from this scenario is make the price of Bitcoin crash to $18xx with successfully of whales and loss of newbie


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wantjokull
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July 22, 2017, 05:06:41 AM
 #11

This stuff is taken very "panicky" now a days. To be honest there is no need to fear the august situation because according coindance data I can predict that bitcoin segwit has got all the support that it could have. It is likely more than 80% of which most of them are miners, whale investors and they can turn the world of bitcoin upside down. With my knowledge I'm sure they won't let down the traditional bitcoin and whatever other form produces (if split occurred) then that would be having almost no value. So it is better to keep our investment steady with traditional bitcoin. Once the august comes you will know it yourself :-)

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TinaK
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July 22, 2017, 05:20:44 AM
 #12

never worry about it, just buy cheap bitcoin.

you will lose only if you sell.

Yes, you lose only if you sell.
aoihs00
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July 22, 2017, 06:25:37 AM
 #13

Staying neutral at this point looks great to me. Let's watch over the fence what's happening. If green signals start popping up then we can jump the either side of it and make our way. I'm pretty sure nothing is going to happen with bitcoin, it will get greatest support of all time and will benefit us in terms of profit. So stay tight and wear your sunglasses because bitcoin is gonna shine like anything.
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July 22, 2017, 08:57:34 AM
 #14

What do you mean? Bitcoin price still persist over $2650 and where do you find it at $2300, on your trading desk?
That was on the 18/7/2017, price was $2300 as in the image and I actually bought some Bitcoin, because the signal to buy(bounce from 50% Fibo retracement level and oversold condition from Bollinger Bands) was strong enough for me.
 
Quote
Do not spreading fud news, bitcoin won't split into 2-4 coins, bitcoin still one and always be the one, consensus rule make it happen.
People or miners simply choose to signaling for segwit or not, if the hashrate on the deadline still not enough around 89%-95%, then it won't be activated. Let's see what will happen in August, but I'm quite sure bitcoin won't split.
Edit : For BIP148 Bitcoin, if garners >51% of the network hashrate, UASF supporters are victorious.
I don't see how that's spreading of FUD! Are you well aware that signaling of BIP91 was fast tracked to counter UASF that is billed for August 1st?  Notwithstanding that more than 90% of miners have signaled for Segwit2x and BIP91 locked-in, there is no consensus and Bitcoin core are still bent on BIP148.

Apparently Bitcoin is not all about miners, but users and companies that does business with it. With that, you don't require a mirror to see what is in your hand and it's certainly not a time for wishful thinking, follow the facts and you won't be caught up by any surprise.

http://www.trustnodes.com/2017/07/18/60-bitcoin-miners-started-signalling-segwit2x
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July 22, 2017, 09:13:33 AM
 #15

Staying neutral at this point looks great to me. Let's watch over the fence what's happening. If green signals start popping up then we can jump the either side of it and make our way. I'm pretty sure nothing is going to happen with bitcoin, it will get greatest support of all time and will benefit us in terms of profit. So stay tight and wear your sunglasses because bitcoin is gonna shine like anything.
We all saw that bitcoin fork, which all be scared about, that we can lost the price of bitcoin but nothing happend, but it raised up to 2800$. To be scared of some segwit i think it's no reason 


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Victorycoin
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July 22, 2017, 11:32:39 AM
 #16

Honestly i don't understand what actually do you mean.. Well bitcoin was stable few weeks ago with $2300 value but people are afraid about segwit or what will happen in august 1 that is why the price was drop until $1800 value but after beginning running segwit software by some miners its normally running this is what i heard from them and announce that segwit is running normally so it means after august 1 after activation it will running normally..
This is the reason the price was increasing fast until the price was touch back to $2700 value ..  but the fear after this month there are still people are afraid after august 1.
Yes the market was actually on a free fall, but got some respite when some miners started signaling for Segwit2x through BIP91. However, that is more or less a first aid, what a number of people fail to understand is that Segwit2x also proposed a hard fork to follow after 3 months of activating segwit, which would change the cords of Bitcoin and that where the BIP148 - UASF guys differ.

My decision was selling it. I really couldn't take the risk of sharp downs. I sold it out and started to wait for 1 august segwit. Carrying positions very dangerous for now.

By the way, what's the chart or system you used in the image? It's very cool.
Not a bad idea to steer clear of troubled waters especially if one does not have a lot of fund, however knowing that market price doesn't continue indefinitely in anyone direction can create a lee way to lay ambush for the market, buying at significant support levels and sell off at resistance levels, on and on till the storm be over. For now the storm is not over yet.

I use Fibonacci retracement and Bollinger Bands for charting the market, your can see how market reacts at those levels!
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July 22, 2017, 02:08:37 PM
 #17

On the 18th of July, after the market  hqd taken a plunge two days earlier, this was the picture on my trading desk. Looking at the picture and then the possibility of a split into 2 - 4 Bitcoin coins, what was going to be your decision? Do you think those indicators have anything to add in reaching a trading decision? In between when this shot was taken and now, market have moved from $2300 to Over $2700 and most likely testing $3000 before 1st of August!


Some fear of august 1 because they think that bitcoin will die.Even though price of bitcoin now is very cheap but still bitcoin are hoping for what bitcoin can give in the future.And I believe that after august 1 until the end of this year bitcoin is getting popular.Anf this will be a welknown currency because of quick,easy and fast to use.
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July 22, 2017, 02:48:44 PM
 #18

i'm just trying to Buy Altcoin with BTC and waiting for 1 august. after Segwit2x i will start again my trading.....
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July 22, 2017, 03:30:48 PM
 #19

i'm just trying to Buy Altcoin with BTC and waiting for 1 august. after Segwit2x i will start again my trading.....

Many people do just that. They just convert bitcoin into some popular crypt. But I'm not sure that this will help to avoid risks. After all, if we look at the graph, the volumes can see that if the price of bitcoin falls, then all alternative coins also become cheaper

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July 22, 2017, 03:53:57 PM
 #20

i'm just trying to Buy Altcoin with BTC and waiting for 1 august. after Segwit2x i will start again my trading.....

Many people do just that. They just convert bitcoin into some popular crypt. But I'm not sure that this will help to avoid risks. After all, if we look at the graph, the volumes can see that if the price of bitcoin falls, then all alternative coins also become cheaper

who said when bitcoin price fall all alternative coins also become cheaper ?
i don't believe it,alternative coin function was to create a way to make more Bitcoin,
that mean,when Bitcoin price every altcoin will be pumped so hard,

because they're taking it as an opportunity for them to collect more Bitcoin.
don't worry about price fall or something like that,Bitcoin always survived and recovered it price.

based on your chart,more likely we can see another pump in the few days later before 1 august or sideways and after that correction (medium correction type may be)
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